Posted by JA (AL) on January 17, 1999 at 19:42:33:
Thank you for your response. The utilities come to an average of $785 a mo. based on the past 12 mos. payments. Since there are 2 vacant offices and 4 rented, I will pay some of them myself. However, the proration of utilities is the time consuming part. It is better, I believe, just to average it out and charge the same each month to each tenant based on the square footage they lease. Seems pretty fair–and BTW, the tenants ARE lawyers. Rents as low as $575 in a building only one block from the new multi-million dollar courthouse. I don’t expect too much of a hassle. One lawyer has been here for 10 yrs. He can certainly afford an increase of $130. If I can find 2 more tenants, my cash flow would be about $945 mo. And the building is selling at 70k below appraisal. once I find more tenants I will put it on the market again.